BRIEF: Meituan’s Keeta enters Dubai, its third Middle East market in 40 days

Food delivery giant Meituan’s (3690.HK)Keeta international delivery brand officially launched in Dubai on Saturday, according to its official WeChat account. The move comes after Keeta entered Qatar in August and Kuwait in September, making the UAE its third new Middle Eastern market in the last 40 days. The move also makes the UAE Meituan’s fourth strategic foothold in the Persian Gulf region.

The company said that Keeta’s Dubai launch represents another milestone in its “Retail + Technology” strategy. Dubai has also become the first overseas hub for Keeta Drone, the company’s drone delivery service. Meituan said Keeta will leverage its accumulated technological capabilities and fulfillment network to build a dual model of “ground + low-altitude” delivery, driving the large-scale rollout of its on-demand retail services in the region.

Meituan launched Keeta in Hong Kong in May 2023, before expanding into Saudi Arabia in September last year, where the service now covers 20 cities. Meituan’s “New Initiatives” segment, which includes Keeta, recorded 26.5 billion yuan ($3.71 billion) in revenue during the second quarter, up 22.8% year-on-year, while its operating loss widened by 43.1% year-on-year to 1.9 billion yuan.

Meituan’s shares opened higher on Monday, closing at HK$102.4 by the midday break, up 1.79%.

By Lee Shih Ta

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